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Question
Give economic term:
Elasticity resulting from infinite change in quantity demanded.
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Solution
Perfectly elasticity demand
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| (2) Perfectly inelastic supply | (b) Es < 1 |
| (3) Unitary elastic supply | (c) Es = 1 |
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| 3 | Perfectly Inelastic Demand | (c) | ed = 0 |
| 4 | Perfectly Elastic Demand | (d) | ed = 1 |
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